While advances in technology and culture are creating an ever changing and ever more competitive workforce, both employees and employers are adapting to the shifting climate for businesses large and small. While retirement options and healthcare are still important, job seekers are now looking for jobs that compliment their lifestyles with a variety of other benefits, and employers are doing more and more to offer the kinds of lifestyle benefits that attract hardworking, committed, and happy employees. 

Read here to understand what these types of voluntary and lifestyle benefits mean for today’s workforce. 

What counts as a benefit in the workplace? 

Colloquially, the term “benefit” is used to mean many different things. If you asked Webster, he would tell you that it is an advantage of some kind, a perk, or a gift offered in reciprocation of something else. 

In the workplace, the term “benefit” can be nearly just as ambiguous. So, what exactly qualifies as a “workplace benefit”? 

Anything that an employer (or group) can offer that improves your life 

As broad as it sounds, workplace benefits can be almost anything that an employee would find advantageous to their life, in the workplace as well as outside of it.  

Traditional work benefits like medical and health related coverage have become standard across many industries, but other job perks are becoming more common and more sought after. These perks can include a fantastic work environment, on-site amenities, or providing easy access to free or paid services for employees. These may also come in the form of discount programs, where the employer just provides discounted access to a service or amenity.  

Wellness programs can offer direct or indirect access to benefits targeted at health and fitness for employees. Direct lifestyle benefits might include an on site gym or shared company ski pass, while indirect wellness programs might just make gym memberships more accessible or offered at a lower rate. 

Anything from a cozy and inviting office lounge to complimentary yoga classes or haircuts can be considered a workplace benefit. 

With this broad line of thinking, the possibilities for benefits are nearly limitless.  

So, which benefits are offered most commonly? 

Backed by long standing precedent in any workplace, traditional benefits will always be some of the most common benefits that are offered. They are near to expected by most employees. These include major medical, disability, retirement plans, and sometimes vision and dental. 

Additionally, wellness programs have become more and more common as health concerns are increasingly at the forefront of our minds.  

With changes to family structures in recent decades, childcare benefits have become almost a necessity for some workers who would not otherwise have the availability to come to work without it. 

What is a lifestyle benefit? 

Simply put, lifestyle benefits are benefits offered to an employee in addition to their salary to improve their overall quality of life. As the name suggests, these benefits aim to improve their lifestyle both while they are at work as well as during their off times.  

The employer is not required to offer these benefits and the employee is not required to participate, but it provides them with options which can make their job more enjoyable and more worthwhile. 

What is a voluntary benefit? 

There are overlaps between voluntary and lifestyle benefits. Any benefit that is offered by your employer that they are not legally required to offer and that you are not required to participate in can be considered a voluntary benefit. In this way, all lifestyle benefits are also voluntary benefits. 

How much do employees really want these perks? 

As the balance between work and personal life becomes a more and more prevalent conversation, employees are looking for more satisfaction out of their working life to compliment their everyday life. All things about the role being equal, an employer who offers additional benefits will be more attractive for potential employees.  

Additionally, healthier and happier employees offer greater retention for employers. Having well rounded benefits to make an employees life better both on and off the job can help to prevent burn out and keep employees committed to a job that meets their needs far beyond their salary. 

What are the barriers that employers face to prevent them from offering these benefits? 

With how great all of this sounds, you would assume that every employer would want to offer these great perks for their valued employees.  

So, what is preventing them from doing so? 

High cost 

As it is with business, it often comes down to the bottom line. The high cost of some benefit options is a barrier for many smaller companies. 

Limited access 

While large organizations have access to fantastic programs that are made reasonable by the sheer size of the company, small to medium size aren’t given the same access by benefits brokers. 

Complexity 

At times, finding appropriate and affordable benefits for employees can be a real challenge for smaller employers, associations, and affinity groups. Because broad nature of workplace benefits, there is a sea of options out there. Determining which ones a business may qualify for, which ones fit in the budget, and which ones make the most sense to offer can be incredibly complex and too time consuming for many small to medium sized companies. 

How does Breakroom Benefits help small businesses? 

Our marketplace platform is designed to make competitive benefits packages available and affordable for small to medium sized companies. After taking a hard look at the industry, we designed our solution to overcome the obstacles many smaller employers, associations, and groups face. 

Simplification with PEPM payment structure 

Paying PEPM (Per Employee Per Month) means that our billing structure is simple and offered at an appropriate price to meet your needs. No wasted time with administration, just the coverage you need per employee. 

Leveraging group size

To break down the barrier of limited access, Breakroom Benefits takes your small group and makes it a part of our own. By compiling the companies who utilize our platform into one large group, we can provide affordable access to perks that are usually only feasible for larger organizations. 

Small businesses can maintain their bottom line AND keep their workforce happy 

As a small business ourselves, we know how tough it is to compete for the best talent and retain them. With combined decades of experience in the industry, we have found a solution to that problem, leveling the playing field for companies like ours. 

By offering affordable, accessible options, Breakroom Benefits is helping employers to meet and exceed the needs of their valued employees.